TORONTO: Canntab Therapeutics Limited announced the impending launch of its suite of hard pill cannabinoid formulations in Australia with its partner CANN Global Ltd.
CANN Global through its management partnership with Medcan Australia Pty Ltd, received an import permit and have placed an initial order for Canntab’s products.
Canntab will immediately apply for an export permit with Health Canada, which will allow it to fulfill this purchase order.
The Company intends to ship its suite of Patented and Patent Pending products, including THC, CBD and THC/CBD combination hard pill formulations to CANN Global before the end of 2020. Once the products are shipped to CANN Global in Australia, the products will be distributed throughout Australia to medical distributors, including Doctors, Pharmacies, and Hospitals.
Applied Cannabis Research (ACR), a leading Australian contract research organization focused exclusively on medical cannabis treatments, has launched Australia’s largest observational study ever undertaken for medical cannabis.
Canntab, through the products it supplies to CANN Global Ltd., which is a direct participant in the study, will be participating in this clinical collaboration with major Australian clinics and hospitals to complete the Cannabinoid Medicine Observational Study (CMOS) that will collect data from 20,000 patients nationwide over 5 years.
CMOS aims to assess the safety and efficacy of medicinal cannabis products for a range of refractory conditions including fibromyalgia, chronic pain syndromes, PTSD, epilepsy and other mental health and neurological conditions using cannabis, including Canntab’s Hard Pill Cannabinoid Formulations.
ACR will lead the study in conjunction with Australia’s medical community and key industry partners such as Althea Group Holdings , Cronos Australia , Cymra Life Sciences , Medcan Australia and Cann Global.
“This deal is two years in the making and represents important milestones for our company,” explains Larry Latowsky, Chief Executive Officer of Canntab.
Mr. Latowsky continues, “It is the first of what will be many international alliances and agreements to export our patented products for distribution through our partners’ networks, and it is the first observational clinical study that we are confident will support our vision of our product as unique, effective and the preferred cannabinoid delivery system for many medical symptoms and conditions.”
Sholom Feldman, CANN Global’s Managing Director says: “We are very excited to progress the launch of Canntab’s innovative cannabis-based tablets in Australia which we expect will be very sought-after by Doctors who are looking to prescribe pharmaceutical grade medicinal Cannabis products to their patients.
“It is our understanding from discussions with medical professionals that it is easier for them to prescribe a uniform dosage tablet produced to pharmaceutical grade standards compared to unreliability of delivery methods used by other products already on the market, giving our product a solid competitive advantage.”
The legal cannabis market is expected to be worth US$1.55 billion by 2024 in Australia, New Zealand and the surrounding islands, with medicinal cannabis accounting for approximately 40% of the market.
Australia is expected to account for 79% of the region’s overall market by 2024, due to a comparably larger population and higher household disposable income than New Zealand and the islands across the region.
Canntab Therapeutics is a Canadian biopharmaceutical company focused on the manufacturing and distribution of a suite of hard pill cannabinoid formulations in multiple doses and timed-release combinations.
Canntab’s proprietary hard pill cannabinoid formulations provide doctors, patients and consumers with medical grade solutions which incorporate all the features one would expect from any prescription or over the counter medication sold in Canadian pharmacies.
These will include the following formulations: once a day and extended release, both providing an accurate dose and improved shelf stability.
Canntab holds a Cannabis Standard Processing & Sales for Medical Purposes Licence, a Cannabis Research Licence, and an Industrial Hemp Licence from Health Canada.
Canntab trades on the Canadian Securities Exchange under the symbol PILL, on the OTCQB under the symbol CTABF, and on the Frankfurt Stock Exchange under the symbol TBF1.